SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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SCHEDULE 13D
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
RULE 13d-2(a)
(Amendment No. 10)1
CONTINENTAL MATERIALS CORPORATION
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(Name of Issuer)
COMMON STOCK, $.25 PAR VALUE
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(Title of Class of Securities)
211615 30 7
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(CUSIP Number)
STEVEN WOLOSKY, ESQ.
OLSHAN GRUNDMAN FROME ROSENZWEIG & WOLOSKY LLP
505 Park Avenue
New York, New York 10022
(212) 753-7200
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
January 16, 2003
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(Date of Event Which Requires Filing of This Statement)
If the filing person has previously filed a statement on Schedule
13G to report the acquisition that is the subject of this Schedule 13D, and is
filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the
following box / /.
Note. Schedules filed in paper format shall include a signed
original and five copies of the schedule, including all exhibits. See Rule 13d-7
for other parties to whom copies are to be sent.
(Continued on following pages)
(Page 1 of 6 Pages)
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1 The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which would
alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall
not be deemed to be "filed" for the purpose of Section 18 of the Securities
Exchange Act of 1934 or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
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CUSIP No. 211615 30 7 13D Page 2 of 6 Pages
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
STEEL PARTNERS II, L.P.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
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NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 327,300
OWNED BY
EACH
REPORTING
PERSON WITH ------------------------------------------------------------------
8 SHARED VOTING POWER
- 0 -
------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
327,300
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10 SHARED DISPOSITIVE POWER
- 0 -
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
327,300
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
18.3%
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14 TYPE OF REPORTING PERSON*
PN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP No. 211615 30 7 13D Page 3 of 6 Pages
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
WARREN G. LICHTENSTEIN
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
OO
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
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NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 327,300
OWNED BY
EACH
REPORTING
PERSON WITH ------------------------------------------------------------------
8 SHARED VOTING POWER
- 0 -
------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
327,300
------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- 0 -
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
327,300
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
18.3%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP No. 211615 30 7 13D Page 4 of 6 Pages
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The following constitutes Amendment No. 10 ("Amendment No. 10") to
the Schedule 13D filed by the undersigned. This Amendment No. 10 amends the
Schedule 13D as specifically set forth.
Item 3 is hereby amended and restated to read as follows:
Item 3. Source and Amount of Funds or Other Consideration.
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The aggregate purchase price of the 327,300 Shares of Common
Stock owned by Steel Partners II is $3,967,363. The Shares of Common Stock owned
by Steel Partners II were acquired with partnership funds.
Item 5(a) is hereby amended and restated to read as follows:
(a) The aggregate percentage of Shares of Common Stock reported
owned by each person named herein is based upon 1,785,654 Shares outstanding,
which is the total number of Shares outstanding as reported in the Issuer's
Quarterly Report on Form 10-Q for the quarter ended September 28, 2002.
As of the close of business on January 21, 2003, Steel Partners
II beneficially owned 327,300 Shares of Common Stock, constituting approximately
18.3% of the Shares outstanding. Mr. Lichtenstein beneficially owned 327,300
Shares, constituting approximately 18.3% of the Shares outstanding. Mr.
Lichtenstein has sole voting and dispositive power with respect to the 327,300
Shares owned by Steel Partners II by virtue of his authority to vote and dispose
of such Shares.
Item 5(c) is hereby amended to add the following:
Schedule A annexed hereto lists all transactions by the
Reporting Persons in the Issuer's Common Stock during the past 60 days. All of
such transactions were effected in the open market.
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CUSIP No. 211615 30 7 13D Page 5 of 6 Pages
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SIGNATURES
After reasonable inquiry and to the best of his knowledge and
belief, each of the undersigned certifies that the information set forth in this
statement is true, complete and correct.
Dated: January 22, 2003 STEEL PARTNERS II, L.P.
By: Steel Partners, L.L.C.
General Partner
By: /s/ Warren G. Lichtenstein
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Warren G. Lichtenstein,
Chief Executive Officer
/s/ Warren G. Lichtenstein
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WARREN G. LICHTENSTEIN
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CUSIP No. 211615 30 7 13D Page 6 of 6 Pages
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SCHEDULE A
Transactions in the Shares During the Past 60 Days
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Shares of Common Stock Price Per Date of
Purchased Share($) Purchase
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STEEL PARTNERS II, L.P.
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1,000 26.6050 11/22/02
800 25.9375 12/10/02
1,000 26.0500 12/11/02
200 26.3900 12/18/02
700 27.0357 12/23/02
3,600 27.0500 12/24/02
1,000 27.0500 1/07/03
1,000 27.0500 1/08/03
1,000 27.0500 1/14/03
1,400 26.9000 1/15/03
1,000 27.0500 1/16/03
WARREN G. LICHTENSTEIN
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